Newbridge Financial Services Group Inc. Takes $338,000 Position in Hess Midstream LP (NYSE:HESM)

Newbridge Financial Services Group Inc. purchased a new position in shares of Hess Midstream LP (NYSE:HESM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 9,132 shares of the company’s stock, valued at approximately $338,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new stake in shares of Hess Midstream during the second quarter worth about $426,000. Exchange Traded Concepts LLC grew its stake in Hess Midstream by 15.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 122,185 shares of the company’s stock worth $4,309,000 after buying an additional 15,951 shares during the last quarter. Creative Planning increased its position in Hess Midstream by 32.6% during the third quarter. Creative Planning now owns 7,390 shares of the company’s stock worth $261,000 after buying an additional 1,815 shares during the period. NBC Securities Inc. lifted its stake in Hess Midstream by 24,034.0% in the third quarter. NBC Securities Inc. now owns 24,134 shares of the company’s stock valued at $851,000 after buying an additional 24,034 shares during the last quarter. Finally, Leisure Capital Management acquired a new stake in shares of Hess Midstream in the third quarter valued at approximately $872,000. 98.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on HESM. Raymond James upped their price target on shares of Hess Midstream from $42.00 to $45.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Wells Fargo & Company upped their target price on shares of Hess Midstream from $40.00 to $42.00 and gave the company an “equal weight” rating in a report on Tuesday, February 4th.

Hess Midstream Price Performance

Hess Midstream stock opened at $40.42 on Monday. The company has a debt-to-equity ratio of 7.85, a current ratio of 0.70 and a quick ratio of 0.70. The business has a 50 day simple moving average of $38.45 and a 200-day simple moving average of $36.88. Hess Midstream LP has a 12 month low of $32.15 and a 12 month high of $42.15. The stock has a market capitalization of $8.81 billion, a PE ratio of 16.23 and a beta of 1.53.

Hess Midstream (NYSE:HESM) last announced its quarterly earnings data on Wednesday, January 29th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Hess Midstream had a net margin of 14.92% and a return on equity of 54.59%. Equities analysts predict that Hess Midstream LP will post 2.5 earnings per share for the current year.

Hess Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be issued a $0.7012 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 6.94%. The ex-dividend date of this dividend is Thursday, February 6th. This is a positive change from Hess Midstream’s previous quarterly dividend of $0.68. Hess Midstream’s payout ratio is currently 112.45%.

Hess Midstream Profile

Hess Midstream LP owns, develops, operates, and acquires midstream assets and provide fee-based services to Hess and third-party customers in the United States. It operates through three segments: Gathering; Processing and Storage; and Terminaling and Export. The Gathering segment owns natural gas gathering and compression systems; crude oil gathering systems; and produced water gathering and disposal facilities.